John Lewis plc issue of bonds
John Lewis plc announces that it has today priced the issue of £300,000,000 4.25% bonds due 2034 (the “Bonds”) in the wholesale institutional bond markets.
The bonds are expected to be issued on 4 December and to be listed on the Official List and admitted to trading on the regulated market of the London Stock Exchange. They are issued in minimum denominations of £100,000 and have principally been sold to professional institutional investors. The joint bookrunners of the issue were Barclays, Goldman Sachs, HSBC, J. P. Morgan, Lloyds Bank and The Royal Bank of Scotland. Rothschild provided independent advice to John Lewis.
The proceeds of the issue will be used to prepay previously-agreed deficit-reduction contributions to the John Lewis Pension Fund.
The prospectus relating to the Bonds will be published on the website of the Regulatory News Service operated by the London Stock Exchange on or around 2 December 2014.
This announcement does not constitute an offer or invitation to sell, or any solicitation of any offer to subscribe for or purchase any securities, and nothing contained herein shall form the basis of any contract or commitment whatsoever.
This announcement is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") or (iii) high net worth entities, and other persons to whom it may lawfully be communicated (all such persons together being referred to as "relevant persons"). Any investment activity to which this communication may relate is only available to, and any invitation, offer, or agreement to engage in such investment activity will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.
Neither this announcement nor any copy of it may be taken or transmitted into, or distributed, directly or indirectly in, the United States of America, its territories or possessions. This announcement is not a public offer of securities for sale in the United States. The bonds have not been and will not be registered under the US Securities Act of 1933 and may not be offered or sold in the United States absent registration or an exemption from registration under the Securities Act. John Lewis plc does not intend to register any portion of the bonds under the applicable securities laws of the United States or conduct a public offering of the bonds in the United States. Any failure to comply with these restrictions may constitute a violation of U.S. securities laws. The distribution of this announcement in other jurisdictions may also be restricted by law, and persons into whose possession this announcement comes should inform themselves about, and observe, any such restrictions.
Notes to Editors
The John Lewis Partnership - The John Lewis Partnership operates 43 John Lewis shops across the UK (31 department stores, 10 John Lewis at home and shops at St Pancras International and Heathrow Terminal 2), johnlewis.com, 332 Waitrose shops, waitrose.com and business to business contracts in the UK and abroad. The business has annual gross sales of over £10bn. It is the UK's largest example of worker co-ownership where all 90,000 staff are Partners in the business.
For further information please contact:
Citigate Dewe Rogerson
Telephone: 020 7638 9571